The club announced that the takeover from the Friedkin Group, a U.S. company, was finalised on Thursday, bringing an end to Everton’s lengthy ownership story.
The club will move from its long-term home, Goodison Park, to a new stadium on the riverfront for the upcoming season, and the American ownership group will take over the 94.1% majority stake held by British-Iranian billionaire Farhad Moshiri.
Everton is now the tenth Premier League team owned by Americans.
According to a statement from Marc Watts, the club’s incoming executive chairman, “Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club.” “We are committed to leading Everton into an exciting new era both on and off the pitch.”
AS Roma is another Serie A team owned by the Friedkin Group.
“After being approved by the [Premier League] board, the takeover has now been approved by an Independent Oversight Panel,” the Premier League stated, indicating that the group has passed the test of league owners and directors.
In 2016, Moshiri, a former Arsenal shareholder, first purchased a 49.9% part in Everton. By January 2022, he had invested £100 million to raise his ownership to 94.1%.
However, the men’s team of the club has had a turbulent season, and on the last day of 2023, they just avoided relegation.
Despite losing eight points overall due to two different penalties for violating the Profitability and Sustainability Rules (PSR), the team managed to repeat the accomplishment the previous season.
The American ownership will also be in charge of Everton’s women’s team, which has struggled in recent seasons to finish in the bottom half of the standings.
“I genuinely accept that the exchange with the Friedkin Bunch is the most excellent result for the club and its future victory,” Moshiri said.
“Despite a challenging geopolitical background, a significant amount has been accomplished over the last couple of years, the adjustment of our accounts, and the conveyance of our famous modern stadium,” he said.
“I now hand over to modern owners confident within the viewpoint for the club which our extraordinary fans will see the victory on the pitch that they so altogether merit.”